JPMorgan Chase & Co. Cuts Stake in Brf S.A. (NYSE:BRFS)

JPMorgan Chase & Co. cut its stake in shares of Brf S.A. (NYSE:BRFS - Free Report) by 72.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,418 shares of the company's stock after selling 205,796 shares during the quarter. JPMorgan Chase & Co.'s holdings in BRF were worth $338,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BRFS. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in BRF by 660.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,208,375 shares of the company's stock valued at $5,281,000 after acquiring an additional 1,049,373 shares during the period. State Street Corp lifted its stake in shares of BRF by 2.3% in the 3rd quarter. State Street Corp now owns 1,006,059 shares of the company's stock valued at $4,396,000 after purchasing an additional 22,608 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in BRF by 8.5% during the second quarter. B. Riley Wealth Advisors Inc. now owns 386,300 shares of the company's stock worth $1,572,000 after buying an additional 30,300 shares in the last quarter. Natixis Advisors LLC increased its holdings in BRF by 97.9% in the third quarter. Natixis Advisors LLC now owns 241,221 shares of the company's stock valued at $1,054,000 after buying an additional 119,346 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of BRF in the second quarter worth about $927,000. 4.76% of the stock is owned by institutional investors and hedge funds.

BRF Trading Up 0.4 %

NYSE:BRFS traded up $0.02 on Friday, hitting $3.77. The stock had a trading volume of 1,298,762 shares, compared to its average volume of 1,988,662. The company has a fifty day moving average price of $4.13 and a two-hundred day moving average price of $4.23. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 0.21 and a beta of 1.88. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 1.05. Brf S.A. has a 1-year low of $2.67 and a 1-year high of $4.87.

BRF Cuts Dividend

The firm also recently disclosed a -- dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.0217 per share. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, December 18th. BRF's payout ratio is 20.93%.

Wall Street Analysts Forecast Growth

BRFS has been the subject of several research analyst reports. Citigroup upgraded shares of BRF from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. StockNews.com raised BRF from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $10.70.

BRF Company Profile

BRF SA raises, produces, and slaughters poultry and pork for processing, production, and sale of fresh meat, processed products, pasta, margarine, pet food, and other products. The company provides frozen whole and cut chicken, frozen pork, and turkey, and halal products for Islamic markets; processed foods, such as marinated, frozen, seasoned whole, and cut chicken, roosters, sausages, ham products, bologna, frankfurters, salamis, bacons, cold meats, and other smoked products; and hamburgers, steaks, breaded meat products, kibbeh, and meatballs, as well as chicken sausages, hot dogs, and chicken bologna.